Managers / Q1 2026

Boreal Capital Management LLC

CIK 0002080094 · 1450 BRICKELL AVE, SUITE 2900, MIAMI, FL, 33131 · 3054595400

Reported Value

$123M

Q1 2026

Positions

501

Filings on Record

2019–present window

Filed

May 14, 2026

original filing

Summary

Boreal Capital Management LLC reported $123M in U.S.-listed holdings across 501 positions for Q1 2026.

Its largest position, NVDA, represents 6.1% of the portfolio.

Compared with Q4 2025, the fund opened 67 new positions and exited 27.

Portfolio Metrics

Turnover

+9.0%

vs prior filed quarter

Top-10 Concentration

+32.5%

share of reported value

Largest Position

+6.1%

Nvidia Corp Com

New / Exited

67 / 27

positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value

Portfolio Composition

By security type

Common Stock · 58.7% · $72M
ETP · 31.7% · $39M
Closed-End Fund · 4.3% · $5M
Other · 3.0% · $4M
ADR · 2.2% · $3M
Other · 0.1% · $70,450

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
RIOT Riot Platforms Inc COM	NEW	+154.7K	154.7K	+$2M	$2M
GQ9 Spdr Gold Trust GOLD SHS	NEW	+450	450	−$2M	$193,631
Alliancebernstein Global High Income Fund Inc. COM	NEW	+1	1	−$678,539	$667,630
PTY Pimco Corporate & Income Opportunity Fund COM	NEW	+1	1	−$672,092	$670,211
Abrdn Gold ETF Trust PHYSICAL GOLD SHARES ETF	NEW	+11.6K	11.6K	+$516,789	$516,789
PDO PIMCO Dynamic Income Opportunities Fund COM BEN SHS	NEW	+1	1	−$360,345	$647,704
State Street Spdr S&p 500 Etf Trust TR UNIT	NEW	+1	1	−$347,703	$2M
MU Micron Technology Inc. COM	NEW	+700	700	+$236,572	$236,572

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

50 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	NVDA NVIDIA Corp. COM history →	Equities	6.11%	$8M	43.1K
2	AMZN Amazon.com, Inc. COM history →	Equities	4.34%	$5M	25.6K
3	AAPL Apple Inc. COM history →	Equities	3.97%	$5M	19.3K
4	MSFT Microsoft Corp. COM history →	Equities	3.16%	$4M	10.5K
5	iShares Trust 7-10 YEAR TREASURY BOND ETF	Other Fixed Income	3.01%	$4M	38.8K
6	Vanguard Index Funds S&P 500 ETF SHS	Equities	2.58%	$3M	5.3K
7	GOOGL Alphabet Inc. CAP STK CL A history →	Equities	2.56%	$3M	10.9K
8	iShares Trust MSCI USA QUALITY FACTOR ETF	Equities	2.31%	$3M	14.8K
9	AVGO Broadcom Inc COM history →	Equities	2.23%	$3M	8.9K
10	NDQ Invesco QQQ Trust, Series 1 UNIT SER 1 history →	Equities	2.18%	$3M	4.6K
11	ASML Holding N.V. N Y REGISTRY SHS	Equities	2.13%	$3M	2.0K
12	State Street Spdr S&p 500 Etf Trust TR UNIT	Equities	1.91%	$2M	1
13	META Meta Platforms Inc CL A history →	Equities	1.85%	$2M	4.0K
14	V Visa Inc COM CL A history →	Equities	1.59%	$2M	6.5K
15	RIOT Riot Platforms Inc COM history →	Equities	1.56%	$2M	154.7K
16	TSM Taiwan Semiconductor Manufacturing Co., Ltd. SPONSORED ADS history →	Equities	1.54%	$2M	5.6K
17	BRK/B Berkshire Hathaway Inc. CL B NEW history →	Equities	1.32%	$2M	3.4K
18	Select Sector Spdr Trust STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF	Equities	1.26%	$2M	11.7K
19	IBIT iShares Bitcoin Trust ETF SHS BEN INT history →	Cash Equivalents	1.20%	$1M	38.5K
20	PGR The Progressive Corporation COM history →	Equities	1.14%	$1M	7.1K
21	J P Morgan Exchange Traded Fund Trust EQUITY PREMIUM INCOME ETF	Equities	1.12%	$1M	24.2K
22	iShares Trust BROAD USD HIGH	Other Fixed Income	1.09%	$1M	1
23	J P Morgan Exchange Traded Fund Trust NASDAQ EQUITY PREMIUM INCOME ETF	Equities	1.09%	$1M	24.0K
24	iShares Trust IBOXX INV CP ETF	Other Fixed Income	1.03%	$1M	11.7K
25	MSCI MSCI Inc. COM	Equities	0.98%	$1M	2.2K
26	SPGI S&P Global Inc COM	Equities	0.97%	$1M	2.8K
27	WCN Waste Connections Inc. COM	Equities	0.95%	$1M	7.2K
28	MA MasterCard Incorporated CL A	Equities	0.89%	$1M	2.2K
29	Vanguard Scottsdale Funds SHRT TRM CORP BD	Other Fixed Income	0.88%	$1M	13.7K
30	MUSA Murphy USA Inc. COM	Equities	0.83%	$1M	1
31	KNSL Kinsale Capital Group Inc COM	Equities	0.82%	$1M	1
32	ODFL Old Dominion Freight Line Inc. COM	Equities	0.76%	$940,460	1
33	NDAQ Nasdaq Inc COM	Equities	0.74%	$905,691	10.7K
34	UNH UnitedHealth Group Inc. COM	Equities	0.70%	$862,641	3.2K
35	FICO Fair Isaac Corporation COM	Equities	0.70%	$857,235	803
36	DPZ Dominos Pizza Inc. COM	Equities	0.68%	$838,851	2.3K
37	Ishares Inc MSCI SWITZERLAND	Equities	0.65%	$799,581	13.6K
38	ORLY O'Reilly Automotive Inc. COM	Equities	0.65%	$798,020	8.6K
39	SHW The Sherwin-Williams Company COM	Equities	0.60%	$736,944	2.3K
40	XLE Select Sector Spdr Trust STATE STREET ENERGY SELECT SECTOR SPDR ETF	Equities	0.59%	$721,030	11.8K
41	iShares Trust US HLTHCARE ETF	Equities	0.59%	$720,880	11.7K
42	BAC Bank of America Corp. COM	Equities	0.58%	$713,846	14.6K
43	PANW Palo Alto Networks Inc COM	Equities	0.58%	$712,943	4.4K
44	JPM JPMorgan Chase & Co. COM	Equities	0.57%	$702,967	2.4K
45	AAON Aaon Inc COM PAR $0.004	Equities	0.57%	$697,500	8.4K
46	Calamos Dynamic Conv & Income Fd COM	Other Mixed Allocations	0.56%	$684,823	1
47	Calamos Convertible Opportunities & Income Fund SH BEN INT	Other Fixed Income	0.56%	$684,353	1
48	PTY Pimco Corporate & Income Opportunity Fund COM	Other Fixed Income	0.55%	$670,211	1
49	Calamos Convertible & High Income Fund COM SHS	Other Fixed Income	0.54%	$668,722	1
50	Alliancebernstein Global High Income Fund Inc. COM	Other Fixed Income	0.54%	$667,630	1

Filing History

Quarter	Reported Value	Positions	Filed	Type	Links
Q1 2026	$123M	501	May 14, 2026	13F-HR	changes · EDGAR ↗
Q4 2025	$133M	515	Feb 17, 2026	13F-HR	changes · EDGAR ↗
Q2 2025	$121M	488	Aug 12, 2025	13F-HR	changes · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.